### Bitcoin's Recent Performance
**Bitcoin price** reached a new all-time high of **$93,265** on Wednesday but saw a **3.3% decline** on Thursday, trading around **$88,200** as of Friday. Momentum indicators highlight signs of **bull exhaustion**, suggesting a potential pullback.

![BTC/USDT daily chart](https://editorial.fxstreet.com/miscelaneous/BTCUSDT_2024-11-15_08-59-54-638672450340299065.png)
*BTC/USDT daily chart*

If BTC pulls back, it could drop **10.6%** to retest the **$78,807** support level. Conversely, if bullish momentum resumes, a rally could push Bitcoin to the **$99,887** level, based on Fibonacci extensions.

### Ethereum's Critical Support Level
**Ethereum** faced a **9.2% decline**, trading around **$3,084** and approaching the critical **$3,000** support level. A close below this threshold could trigger a drop to approximately **$2,789**, the **200-day Exponential Moving Average**.

![ETH/USDT daily chart](https://editorial.fxstreet.com/miscelaneous/ETHUSDT_2024-11-15_09-28-53-638672450862506217.png)
*ETH/USDT daily chart*

If ETH breaks above the **$3,454** resistance, it may rally towards **$4,000**.

### Ripple's Resistance Challenge
**Ripple (XRP)** surged **12%** on Thursday, trading at **$0.801** as it approaches the **$0.854** resistance level. A rejection here could lead to a decline back to **$0.714**.

![XRP/USDT daily chart](https://editorial.fxstreet.com/miscelaneous/XRPUSDT_2024-11-15_10-21-44-638672451374539837.png)
*XRP/USDT daily chart*

With an RSI reading of **86**, XRP is also in overbought territory, indicating a risk of pullback. However, a close above **$0.854** could see XRP targeting **$0.930**.


Bitcoin (BTC) and Ethereum (ETH) showed a modest recovery on Friday following Thursday's downturn, yet momentum indicators suggest continuing the decline as signs of bull exhaustion emerge. 

Bitcoin, Ethereum, and Ripple: Will BTC Hit $100k or Fall Back to $78k?

Benzinga readers are optimistic about the future of **Bitcoin** (BTC), especially after it recently achieved multiple **all-time highs**. The latest peak was recorded at **$93,434.36** on November 13, 2024, following a strong performance throughout the year, with Bitcoin trading near these highs.

### The Poll Results
Benzinga conducted a poll asking which cryptocurrency readers believe will see the **biggest price increase by the end of 2025**. Here are the results:
- **Bitcoin**: **40%**
- **Dogecoin**: **36%**
- **Ethereum**: **11%**
- **Pepe Coin**: **8%**
- **Shiba Inu Coin**: **7%**

The strong support for Bitcoin is not surprising, given its significant year-to-date gains and current trading levels.

### Performance Overview
- **Bitcoin**: 
  - Price: **$90,570.10**  
  - 7-Day Return: **+17.4%**  
  - Year-to-Date Return: **+105.2%**  
  - All-Time High: **$93,434.36** on 11/13/24  

- **Dogecoin**:  
  - Price: **$0.3720**  
  - 7-Day Return: **+88.9%**  
  - Year-to-Date Return: **+304.3%**  
  - All-Time High: **$0.7376** on 05/08/21  

- **Ethereum**:  
  - Price: **$3,052.10**  
  - 7-Day Return: **+2.8%**  
  - Year-to-Date Return: **+29.9%**  
  - All-Time High: **$4,891.70** on 11/16/21  

- **Pepe Coin**:  
  - Price: **$0.0000221**  
  - 7-Day Return: **+106.1%**  
  - Year-to-Date Return: **+1,481.9%**  
  - All-Time High: **$0.00002524** on 11/13/24  

- **Shiba Inu**:  
  - Price: **$0.00002429**  
  - 7-Day Return: **+28.7%**  
  - Year-to-Date Return: **+127.6%**  
  - All-Time High: **$0.00002517** on 10/27/21  

Bitcoin and Pepe Coin have recently reached **new all-time highs**, while Dogecoin, Ethereum, and Shiba Inu are still below their 2021 peaks. The community's enthusiasm suggests that Bitcoin might continue to lead the market by the end of 2025, as reflected in the poll results.

*The study was conducted from November 14 through November 15, 2024, with 124 adult respondents.*

*Image: Shutterstock*

Benzinga readers see more gains for Bitcoin (CRYPTO: BTC) after the leading cryptocurrency passed multiple new all-time highs after 

Benzinga Readers Predict Bitcoin's Dominance: Which Cryptocurrency Will Surge by 2025?

In November 2021, **El Salvador’s President Nayib Bukele** captivated a crowd of crypto enthusiasts with his ambitious vision to turn the country into a **Bitcoin paradise**. While some of his grand plans, like a billion-dollar Bitcoin-backed bond and a new crypto city, have yet to come to fruition, Bukele can celebrate a significant achievement: El Salvador's Bitcoin holdings recently surpassed **$550 million**, as tracked by an open-source platform.

Meanwhile, **Bhutan** is also reaping the benefits of its crypto investments. Government-associated wallets have seen their value soar past **$1 billion**, representing over one-third of the country's **GDP**. As digital asset prices have surged post the election of the crypto-friendly **Donald Trump**, advocates are pushing for governments to consider Bitcoin as part of their strategic reserves, akin to oil or gold.

### Bitcoin Economies
According to reports, El Salvador holds nearly **6,000 Bitcoin**, with independent trackers suggesting the number is closer to **6,200**. Unlike larger nations like the U.S., China, and the UK, which possess Bitcoin through legal means, El Salvador has intentionally acquired it as part of Bukele's grand strategy, announced during the **Miami Bitcoin conference** in June 2021.

Although El Salvador's wealth has grown due to its Bitcoin holdings, Bukele's broader vision of adopting Bitcoin as **legal tender** has not fully materialized, with actual usage among citizens remaining low. Nonetheless, Bukele has taken to social media to celebrate the country’s Bitcoin success, even posting a triumphant “I told you so” recently.

Bhutan's foray into Bitcoin has been quieter but equally impressive, with its holdings reportedly double that of El Salvador. The country began Bitcoin mining in **April 2019**, leveraging its **hydroelectric resources**. Bhutan's sovereign investment arm, **Druk Holding & Investments**, confirmed its entry into the crypto space, with its Bitcoin investments surfacing in bankruptcy documents from failed platforms like **BlockFi** and **Celsius**.

As of September, blockchain analytics firm **Arkham** began tracking Druk's wallets, which currently hold over **$1 billion** in Bitcoin and smaller amounts of other cryptocurrencies, including **Ethereum**. Both El Salvador and Bhutan exemplify how strategic adoption of blockchain technology can yield significant financial benefits for nations willing to embrace the volatile world of cryptocurrency.

Bhutan and El Salvador have seen their Bitcoin holdings soar beyond $1 billion and $500 million, respectively.

Bitcoin Bonanza: How Bhutan and El Salvador Are Winning Big with Crypto Investments!

### Bitcoin's Remarkable Ascent

Bitcoin is nearing the **$100,000** milestone for the first time in its history, marking a significant moment for investors and enthusiasts alike. According to insights from **BCA Research**, there's a compelling argument that Bitcoin could potentially **double its value**, reaching the astonishing **$200,000** mark.

### What Does This Mean for Investors?

The projection comes amid a backdrop of increasing institutional interest and adoption of Bitcoin as a legitimate asset class. With the recent surge, many analysts are revisiting their forecasts for the leading cryptocurrency.

### Key Factors Driving the Price Surge

1. **Institutional Adoption**: More companies and investment funds are integrating Bitcoin into their portfolios, signaling a shift in perception.
2. **Inflation Hedge**: As traditional markets fluctuate, Bitcoin is increasingly viewed as a hedge against inflation, attracting more investors.
3. **Technological Advancements**: Improvements in blockchain technology and security are enhancing confidence in Bitcoin's future.

### Conclusion

While the path to $200,000 is not guaranteed, the current trends suggest a bullish sentiment surrounding Bitcoin's future. Investors should remain vigilant and informed as this digital currency continues to evolve and reshape the financial landscape.

Bitcoin is closing in on $100,000 for the first time, but could still double after that, according to BCA Research.

Is Bitcoin on the Brink of Hitting $200,000? Insights from BCA Research

### Bitcoin ETFs in Hong Kong Experience Trading Surge

Surging **bitcoin prices** following the election of **Donald Trump** as the next US president have finally given **Hong Kong’s spot cryptocurrency exchange-traded funds (ETFs)** a significant boost this week. Trading volume surged to a **three-month high**, with about **HK$135 million (US$17.3 million)** changing hands on Tuesday.

On most days since the ETFs launched in April, their total daily trading volume lingered below **US$4 million**. However, the recent increase indicates a growing interest in these financial instruments. 

### Competition with US Crypto Market

The **Asian financial centre’s ambition** to establish itself as a virtual asset hub is now facing increased competition. Trump’s return to the White House has reignited his pledge to make the **US the “crypto capital” of the world**. 

“Historically, the crypto ETFs in Hong Kong were less in the spotlight as most larger institutional investors can simply buy the ones in the US, which are larger and more liquid,” said **Jeff Mei**, chief operating officer of cryptocurrency exchange **BTSE**. 

### Local Demand Rising

The recent surge in interest in Hong Kong indicates a growing demand from **local retail investors, wealth managers,** and **smaller institutional investors** who prefer to have their investments denominated in **Hong Kong dollars**. 

### Bitcoin Price Boom

Bitcoin, the world’s largest cryptocurrency, jumped more than **10 percent** this week, reaching an all-time high above **US$93,000**. The token has gained **35 percent** over the past month as US election polls swung in Trump’s favor, nearly doubling in price so far this year.

![Former president Donald Trump, now present-elect, spoke at the Bitcoin 2024 Conference on July 27 while courting the crypto community on the campaign trail. Photo: AP](https://img.i-scmp.com/cdn-cgi/image/fit=contain,width=1024,format=auto/sites/default/files/d8/images/canvas/2024/11/15/bce865f9-fd5f-48ca-840a-1eda0afd08b0_202602b0.jpg)  
*Former president Donald Trump at the Bitcoin 2024 Conference, courting the crypto community.*

The city’s three spot bitcoin ETFs became active trading targets this week, with US$17 million trading hands on Tuesday.

Surge in Hong Kong Bitcoin ETFs: How Trump's Election Boosted Trading Volumes

### **Taxing the High Emitters**
World leaders at the **United Nations climate talks** in Azerbaijan are being urged to consider **new taxes** on **business-class air travel**, large stock and **cryptocurrency trades**, and **plastic production**. These measures aim to help finance the transition to cleaner economies and address climate change.

### **The Financial Goal**
The discussions are centered around raising substantial funds from developed nations to assist developing countries in adapting to climate change. The goal is to negotiate how much financial support will be provided annually and determine which countries will be donors or recipients. The current target is to replace a fund set to expire in 2025, which allocates **$100 billion** annually, with a staggering requirement of **$1.3 trillion per year** by the 2030s, as indicated by the G77 nations.

![The oil industry still dominates Baku, host to the COP29 United Nations climate talks.](https://static.ffx.io/images/$zoom_0.394%2C$multiply_0.7725%2C$ratio_1.5%2C$width_756%2C$x_16%2C$y_0/t_crop_custom/q_86%2Cf_auto/6c63a675aadcab4224a273ffe99e2a1c61cfb136)

### **Challenges of Negotiation**
The negotiation process has been complicated by political shifts, including the election of Donald Trump, which may lead to the U.S. withdrawing from agreements. The Australian Climate Change and Energy Minister, **Chris Bowen**, is tasked with advancing these stalled negotiations alongside Egypt's **Yasmine Fouad**. Experts have compared the current discussions to **World War I**, indicating the complexity and high stakes involved.

### **Innovative Financial Solutions**
A report from the **Global Solidarity Levies taskforce** suggests that **international taxation** on high-emitting sectors, including cryptocurrencies—which added **1% to global energy demand last year**—could raise significant revenue. For instance, charging **$0.045 per kWh** on cryptocurrency energy use could generate **$5 billion**. Other proposed levies include:
- **$418 billion** from a global stock and bond trading levy.
- **$210 billion** from fossil fuel extraction taxes.
- Up to **$200 billion** from international shipping and aviation levies by **2035**.

### **Polluter Pays Principle**
The task force emphasizes the **“polluter pays” principle**, suggesting that industries responsible for emissions should contribute to the financial solutions for climate stabilization. They propose specific measures such as:
- Targeted aviation levies based on flight distance and class.
- A **$60 to $90** per tonne levy on new plastic polymer production, potentially yielding **$25 to $35 billion** annually.

Dr. Wesley Morgan from the University of New South Wales states, “It is the grand bargain of global climate negotiations. Wealthy nations that contributed most to emissions must help developing countries pursue cleaner futures.”

Climate leaders suggest new taxes on dirty old industries could help pay for the multitrillion-dollar cost of stabilising the climate.

Could New Taxes on Crypto and Flights Fund Climate Change Solutions? A Closer Look at UN Proposals

# Historic Meeting at Mar-a-Lago

President-elect **Donald Trump** met with **Argentina's President Javier Milei** at his Mar-a-Lago resort, marking Trump's first international engagement since his election victory last week.

## A Shared Vision of Freedom
Milei congratulated Trump, emphasizing their mutual commitment to **liberty and economic prosperity**. He stated, "Today, the **winds of freedom are blowing much stronger**" during the America First Policy Institute event. He expressed excitement about collaborating with the new U.S. administration to restore freedom to its rightful place.

## Praise for Free Speech
The Argentine leader also commended **Elon Musk**, who attended the event, for his efforts in promoting **free speech** via X.

## Acknowledgment from Trump
Trump reciprocated with praise for Milei's accomplishments, stating, "Your speech was beautiful, but the job you've done is incredible."

## Economic Policies Under Scrutiny
Milei has received accolades for his **economic policies**, particularly his commitment to significant cuts in public spending aimed at addressing Argentina's fiscal deficit and inflation. His libertarian approach has led him to openly endorse **Bitcoin**, distinguishing him as one of the few world leaders to do so. 

## Challenges Ahead
Despite his support for Bitcoin, Milei faces criticism for his austerity measures, with protests erupting against his attempts to curb pension spending increases.

## Noteworthy Connections
The camaraderie between Milei and Musk has been highlighted, with their previous interactions showcasing a shared interest in economic revitalization. Musk has lauded Milei's initiatives to restore Argentina's stature on the global stage.

Milei's election success in November reflects a strong libertarian stance, promising to tackle Argentina's economic challenges head-on, with a focus on **Bitcoin** as a key aspect of his economic strategy.

President-elect Donald Trump met Argentina President&nbsp;Javier Milei at his Mar-a-Lago resort Thursday. This was his first meeting with a world leader since winning the elections last week.

Historic Meeting: Pro-Bitcoin Argentina's President Javier Milei and Trump Unite for Freedom and Prosperity

### DigitalX Sets the Stage for Crypto's Mainstream Moment

Australian crypto fund manager **DigitalX** is positioning itself as a **"flag bearer"** for digital assets, anticipating a major breakthrough in the crypto industry, especially following significant political shifts in the U.S.

### Cost-Cutting Measures

On Thursday, DigitalX announced it is implementing **substantial cost reductions** of **$950,000** (US$614,000) annually by restructuring its funds management team. This move aims to ensure sustainability and effective execution of its business plan.

### Impressive Gains in Bitcoin Fund

DigitalX's **Bitcoin fund** has reported an incredible **99% yearly gain**, outperforming competitors across various timeframes, with **12% gains over six months** and **30% over three years**. The **Digital Asset Fund** has also shown returns exceeding **526% over five years**, despite a slight **2.1% decline** in the last quarter.

### Bitcoin's Year-to-Date Performance

The crypto market has experienced significant growth this year, with **Bitcoin** seeing a **106% increase**, now priced at **$87,500**. The rise in the profile of digital assets is attributed to U.S. listings of **spot Bitcoin and Ethereum ETFs** and a Republican victory in the presidential race, which many believe paves the way for clearer regulations affecting digital assets.

### Diverse Investment Products

DigitalX offers two distinct Bitcoin investment products: a **Bitcoin Fund** for wholesale investors and a **Bitcoin ETF (BTXX)** for retail investors. These products provide different structures and access methods for investors.

### Market Position and Challenges

Listed on the **Australian Securities Exchange (ASX)** since July, DigitalX’s **spot Bitcoin ETF** is one of several crypto ETFs in Australia, alongside others like **VanEck's VBTC**. The company's ETF unit price has risen from **$20** (US$12.93) at launch to **$31.09** (US$20.10). Despite solid performance, DigitalX faces challenges in raising funds due to a relatively small investor base compared to traditional products.

### Future Outlook

DigitalX’s strategic shift comes at a time of anticipated regulatory changes in the U.S., especially following **Donald Trump's recent presidential victory**. This political climate may lead to **greater regulatory clarity**, creating potential opportunities for the company and its investors. DigitalX emphasizes maintaining a **"safe pair of hands"** approach to client investments, even amidst restructuring efforts.

DigitalX's Bitcoin fund, which is separate to its ETF on the ASX has posted a 99% yearly gain, outpacing its rivals.

Bitcoin, Ethereum, and Ripple: Will BTC Hit $100k or Fall Back to $78k?

Summary:

Bitcoin's Recent Performance

Ethereum's Critical Support Level

Ripple's Resistance Challenge

Comments

Subscribe our Newsletter

BitcoinToday.app

Other Latest News

Benzinga Readers Predict Bitcoin's Dominance: Which Cryptocurrency Will Surge by 2025?

Bitcoin Bonanza: How Bhutan and El Salvador Are Winning Big with Crypto Investments!

Is Bitcoin on the Brink of Hitting $200,000? Insights from BCA Research

Surge in Hong Kong Bitcoin ETFs: How Trump's Election Boosted Trading Volumes

Could New Taxes on Crypto and Flights Fund Climate Change Solutions? A Closer Look at UN Proposals

Historic Meeting: Pro-Bitcoin Argentina's President Javier Milei and Trump Unite for Freedom and Prosperity

DigitalX's Bitcoin Fund Soars with 99% Annual Gains Amid Strategic Cost Cuts

Other Latest News

Benzinga Readers Predict Bitcoin's Dominance: Which Cryptocurrency Will Surge by 2025?

Bitcoin Bonanza: How Bhutan and El Salvador Are Winning Big with Crypto Investments!

Is Bitcoin on the Brink of Hitting $200,000? Insights from BCA Research

Surge in Hong Kong Bitcoin ETFs: How Trump's Election Boosted Trading Volumes

Could New Taxes on Crypto and Flights Fund Climate Change Solutions? A Closer Look at UN Proposals

Historic Meeting: Pro-Bitcoin Argentina's President Javier Milei and Trump Unite for Freedom and Prosperity

DigitalX's Bitcoin Fund Soars with 99% Annual Gains Amid Strategic Cost Cuts